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Friday 6 November 2026
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Palmer Square Capital BDC Inc.
PSBD Financial Asset Management
Palmer Square Capital BDC Inc.’s revenue for fiscal 2025 (year ended December 2025) was $124.4 million, down 13.3% from fiscal 2024.
- Revenue
- −13.8%
- EPS
- +360.0%
- Free cash flow
- +227.3%
- Total debt
- −20.9%
Quarter to September 2026, against a year earlier
9.94
0.05
+0.51%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | 25 | 40 | 74 | 112 | 144 | 124 | 115 | +37.3% | 106 | 104 | — | (8.5%) | |
| Gross margin, % | — | — | — | — | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | — | — | — | — | 27 | 19 | (74) | 108 | 48 | (3) | (20) | n/m | ||||||
| EBT margin, % | — | — | — | — | 104.97 | 48.03 | (99.98) | 96.09 | 33.21 | (2.55) | 0.00 | (107.5) pt | ||||||
| Net income | — | — | — | — | 27 | 19 | (74) | 108 | 48 | (3) | (20) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 2.28 | 2.56 | 3.22 | 4.37 | 4.44 | 3.87 | 0.00 | +11.1% | |||||
| Earnings | — | — | — | — | 2.40 | 1.23 | (3.22) | 4.20 | 1.47 | (0.10) | (0.63) | n/m | ||||||
| Cash flow | — | — | — | — | (55.86) | (28.27) | 1.09 | 0.76 | (6.20) | 5.00 | 5.35 | n/m | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | (55.86) | (28.27) | 1.09 | 0.76 | (6.20) | 5.00 | 5.35 | n/m | ||||||
| Book value | — | — | — | — | 22.69 | 29.22 | 15.71 | 17.97 | 16.62 | 14.44 | 13.21 | (8.6%) | ||||||
| Shares, m | — | — | — | — | 11 | 15 | 23 | 26 | 32 | 32 | 31 | +23.6% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | 3.86 | 3.86 | 3.86 | 3.86 | 10.27 | 0.00 | 0.00 | 4.3 | |||||
| P/S | — | — | — | — | 3.71 | 3.71 | 3.71 | 3.71 | 3.43 | 3.15 | 2.63 | 3.6 | ||||||
| P/B | — | — | — | — | 0.90 | 0.90 | 0.90 | 0.90 | 0.91 | 0.84 | 0.75 | 0.9 | ||||||
| EV/Sales | — | — | — | — | (0.47) | (0.47) | (0.47) | (0.47) | (2.90) | (3.22) | — | (1.3) | ||||||
| EV/FCF | — | — | — | — | (2.71) | (2.71) | (2.71) | (2.71) | 2.08 | (2.49) | — | (1.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | (623) | (438) | 25 | 20 | (201) | 161 | 163 | n/m | |||||
| Capex | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Free cash flow | — | — | — | — | (623) | (438) | 25 | 20 | (201) | 161 | 163 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 253 | 453 | 363 | 462 | 538 | 464 | 403 | +12.9% | |||||
| Net debt | — | — | — | — | (261) | (545) | (378) | (469) | (908) | (792) | (734) | +24.9% | ||||||
| Shareholders’ equity | — | — | — | — | 253 | 453 | 363 | 462 | 538 | 464 | 403 | +12.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | 0.00 | 2.02 | (6.55) | 9.90 | 3.73 | (0.24) | (1.68) | (0.2) pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | 0.00 | 5.40 | (18.25) | 26.13 | 9.54 | (0.63) | (4.49) | (0.6) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 5 | 5 | 5 | — | 0.0% | |||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 0.00 | 0.00 | 22.44 | 28.70 | 24.88 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 4 Nov 2026
Palmer Square Capital BDC Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ALTI AlTi Global, Inc. | $371.1M | — (loss-making) | 23.3× | +10.78% (above 0%: growing) | n/m | +84.23% (above 0%: growing) | 100.00% | (18.70%) | Compare |
| TCPC BLACKROCK TCP CAPITAL CORP. | $358.3M | — (loss-making) | — (loss-making) | −22.23% (below 0%: shrinking) | n/m | +181.35% (above 0%: growing) | 100.00% | 82.80% | Compare |
| CCAP Crescent Capital BDC, Inc. | $348.2M | — (loss-making) | 45.6× | −15.51% (below 0%: shrinking) | n/m | −72.97% (below 0%: shrinking) | 59.08% | 37.45% | Compare |
| CION CION Investment Corporation | $324.7M | — (loss-making) | 9.1× | −38.63% (below 0%: shrinking) | n/m | +591.27% (above 0%: growing) | 100.00% | 25.33% | Compare |
| PSBD Palmer Square Capital BDC Inc. | $303.1M | — (loss-making) | — (loss-making) | −13.83% (below 0%: shrinking) | +360.00% (above 0%: growing) | +227.26% (above 0%: growing) | 100.00% | 83.11% | |
| CYPH Cypherpunk Technologies Inc. | $266.2M | — (loss-making) | — (loss-making) | 0.00% | n/m | +15.53% (above 0%: growing) | 0.00% | 0.00% | Compare |
| HRZN Horizon Technology Finance Corporation | $265.5M | — (loss-making) | — (loss-making) | +2.14% (above 0%: growing) | n/m | −97.72% (below 0%: shrinking) | 100.00% | 93.70% | Compare |
| RWAY Runway Growth Finance Corp. | $256.5M | 41.1× | 16.6× | +10.39% (above 0%: growing) | +18.18% (above 0%: growing) | +62.58% (above 0%: growing) | 100.00% | 71.90% | Compare |
| SAR Saratoga Investment Corp | $200.7M | — (loss-making) | 108× | +1.77% (above 0%: growing) | n/m | −43.85% (below 0%: shrinking) | 100.00% | 68.55% | Compare |
| Median of peers | $295.5M | — | 23.3× | +0.89% | — | +39.06% | 100.00% | 53.00% |